Cheap Homes for Rent in Downtown Portland Neighborhood of Portland, OR from $1,000 (14 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown Portland area of Portland.

property at 20 NW 16th Ave

20 NW 16th Ave

PortlandOR97209

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Portland’s Best Affordable Neighborhoods

Learn about Portland and the best places to live with original content written by our Portland, OR Local Expert Chad Deitchley

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Downtown Portland, Portland, OR Local Guide

Cheapest Available Downtown Portland Apartments for Rent

 

The cheapest available apartment rental in the Downtown Portland area of Portland, OR is a Studio unit found at Modern Rich Apartments priced from $649. Morrison Park Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $800. Here are the most affordable Downtown Portland apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Morrison Park ApartmentsStudio - 50%Studio,1BA$800
Margaret Carter PlazaOne Bathroom One Bedroom HUD Unit1BR,1BA$848
Hidwell Apartments1BR/1.0BA1BR,1BA$895
Brown Apartments0BR/1.0BAStudio,1BA$895

Best Value Apartments for Rent in Downtown Portland, OR

As of April 27, 2025 the best value apartment in the Downtown Portland area is the $2.02 price per square foot 3 Bed 3.5 Bath D Model at 140 Sacramento Townhomes in the in the Northeast Portland neighborhood starting from $3,550. The second greatest value Downtown Portland apartment is the Two Bedroom Model at Gallery Park Apartments starting at $1,799 with a $1.50 price per square foot in the Northwest Portland neighborhood. Here is today’s list of the best values for Downtown Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
140 Sacramento Townhomes3 Bed 3.5 Bath D3BR,3.5BA$2.02
Gallery Park ApartmentsTwo Bedroom2BR,2BA$1.50
The Cornerstone Apartments2B1B2BR,1BA$2.02
Parkview Apartments1bd1ba2fl 7501BR,1BA$1.99
1415 SW Alder St, Unit 7171415 SW Alder St1BR,1BA$1.88
Hidwell Apartments2BR/1.0BA2BR,1BA$1.82
Whitney GrayStudio CStudio ,1BA$1.88
Westfal ApartmentsOne Bedroom1BR,1BA$1.83
Margaret Carter PlazaOne Bathroom One Bedroom HUD Unit1BR,1BA$1.47
Brown Apartments0BR/1.0BAStudio ,1BA$1.79

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Frequently Asked Questions about Downtown Portland

What type of rentals are currently available in Downtown Portland?

There are currently 514 Apartments for Rent in Downtown Portland, OR with pricing that ranges from $550 to $26,948. There are also 43 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Portland ranging from $1,095 to $15,000.

What is the current price range for Rental Homes in Downtown Portland?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Portland ranges from $1,095 to $15,000 with an average monthly rent of $4,928.

How much are larger Three and Four Bedroom Rentals in Downtown Portland?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Portland range from $1,773 to $26,948, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,995 to $2,995. Four Bedroom Single-Family rentals are also available starting from $10,000 and Four Bedroom Apartments start at $4,000.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Portland Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent

Written by: Chad Deitchley

As your ApartmentHomeLiving.com Local Expert for Portland, Oregon, I’d like to briefly introduce myself. My name is Chad, and I come to the ApartmentHomeLiving.com team after living in Portland for decades.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.